Investors warm to low reset AT1s as thirst for yield increases
Investors looking for some extra returns in the financial institutions bond market after an impressive rally this year have started seeing value in additional tier ones with low reset spreads, despite the risk that the bonds will not be called at the first opportunity.
The European Central Bank stands ready to slash interest rates further or give its asset purchase programme a reboot, if its president Mario Draghi's comments made on Tuesday in Portugal were anything to go by. This sent bond yields plummeting across the credit market.Investors appeared happy to ...
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